EUR/GBP Consolidates, Awaiting Directional Cues
The EUR/GBP pair is currently consolidating within a narrow range, lacking clear directional momentum. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators suggest waning bullish momentum.
Key Technical Levels:
- Support: 20-day SMA (0.8350)
- Resistance: 100-day SMA
A decisive break above the 100-day SMA could signal a bullish trend, while a break below the 20-day SMA could indicate a potential bearish move. However, given the current consolidation phase, it's essential to monitor the pair closely for any significant developments.